Moody's rates Elementia, notes Ba2

Moody's Investors Service said it assigned a provisional Ba2 rating to Elementia, SA's proposed $400 million of senior unsecured global notes due in 2020.

At the same time, Moody's said it assigned a provisional Ba2 corporate family rating to Elementia.

The outlook is stable.

Moody's added that it has assigned the ratings on a provisional basis pending the successful issuance of the proposed notes, stating that this is the first time it has rated Elementia.

Elementia's provisional Ba2 ratings reflect the company's leading market positions for manufactured fiber cement, copper and aluminum products in Mexico and its various Central and South American markets, the agency added.

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